Bank Of New York Mellon Corporation (The) (NYSE:BK) Shares Sold by Focused Wealth Management Inc

Focused Wealth Management Inc lowered its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,516 shares of the bank’s stock after selling 42 shares during the period. Focused Wealth Management Inc’s holdings in Bank Of New York Mellon Corporation (The) were worth $213,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sciencast Management LP raised its position in Bank Of New York Mellon Corporation (The) by 83.5% in the fourth quarter. Sciencast Management LP now owns 11,960 shares of the bank’s stock valued at $567,000 after buying an additional 5,443 shares during the last quarter. Leuthold Group LLC bought a new position in Bank Of New York Mellon Corporation (The) during the fourth quarter valued at $4,404,000. Franklin Resources Inc. raised its position in Bank Of New York Mellon Corporation (The) by 29.8% in the fourth quarter. Franklin Resources Inc. now owns 639,655 shares of the bank’s stock valued at $30,307,000 after buying an additional 147,040 shares during the last quarter. A.R.T. Advisors LLC raised its position in Bank Of New York Mellon Corporation (The) by 114.2% in the fourth quarter. A.R.T. Advisors LLC now owns 112,163 shares of the bank’s stock valued at $5,314,000 after buying an additional 59,800 shares during the last quarter. Finally, Blenheim Capital Management BV bought a new position in Bank Of New York Mellon Corporation (The) during the fourth quarter valued at $321,000. Institutional investors own 82.06% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE BK) traded up 0.08% on Friday, hitting $52.66. 2,255,222 shares of the company traded hands. The firm’s 50 day moving average price is $51.36 and its 200 day moving average price is $48.00. Bank Of New York Mellon Corporation has a 1-year low of $38.53 and a 1-year high of $54.59. The firm has a market capitalization of $54.41 billion, a PE ratio of 15.62 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. Equities research analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.82%. This is a boost from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, July 28th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is 22.49%.

Bank Of New York Mellon Corporation (The) announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $3.10 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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Several equities analysts recently weighed in on the stock. Royal Bank Of Canada restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Deutsche Bank AG increased their price target on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Bank of America Corporation set a $52.00 price objective on shares of Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a report on Friday, July 21st. Zacks Investment Research raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, July 24th. Finally, Buckingham Research reaffirmed a “neutral” rating and set a $57.00 price objective (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Bank Of New York Mellon Corporation (The) has an average rating of “Buy” and an average target price of $53.00.

About Bank Of New York Mellon Corporation (The)

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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